The market has sold-off from its year-to-date highs. Creating some good, long-term investment opportunities.
Especially if you like reasonably priced dividend growth stocks.
Here are the three investments I’m making this month.
You can use these ideas as springboard for your own financial endeavors.
1. Increasing The Opportunity Fund
If you follow this series, you’ll know that one of my 2023 goals was to buy 35 shares of Texas Instruments.
I put cash on the side and buy the dip whenever share prices fell.
I reached my goal in early August, with an average cost of $167.72 per share. Texas Instruments stock looked like a roller-coaster, often rallying into the $180 range. But by staying patient, I was able to get a good deal on this company.
Right now, savings accounts are yielding 3–4%.
Meaning there’s no reason to rush into a high-priced stock.
I’m very happy keeping cash on the sidelines and waiting for one of the following companies to go on sale:
- Broadridge Financial ($BR) — A wide-moat business that makes money off stocks. Broadridge Financial handles all shareholder services for publicly traded companies like Colgate and York Water. Shares have really taken-off since the company’s March low. And I’d love to acquire more around $145.
- Federal Agricultural Mortgage ($AGM) — Shares are up roughly 45% since I first looked at this stock. However, it’s still cheap from a price to earnings perspective. With a PE of 10.92 and an inflation destroying 5-year compound annual dividend growth rate of 16.88%, I’d be happy to buy at $160 — $165 per share.
- Medtronic ($MDT) — I’d love to finish out my position in this medical device manufacturer. Medtronic makes pacemakers and insulin pumps. And the company has long history of rewarding shareholders. They’ve consistently raised their dividend for the past 46 years, with a 5-year compound annual dividend growth rate of 7.75%. I’d be…